Tron Price Prediction: Buyers Fail To Push TRX To $0.100

Daily Trron Technical Analysis

By
Last Updated December 3rd 2021
3 Min Read
  • The Tron price has remained relatively static over the past few days, with buyers unable to push the price to $0.100 
  • TRX has pushed up during the current week, after dropping by over 8% on Friday. 

The Tron price has been quite positive during the current week, although the price has not seen much movement. TRX had ended the weekend on a positive note, moving up to $0.095. On Monday, the price continued to push higher, rising to $0.097, but dropped back on Tuesday, registering a marginal drop. TRX pushed up on Wednesday, registering another marginal increase and rising to $0.096. The current session sees buyers and sellers struggling for control, with the price currently at $0.097. 

Tron Price Chart Indicates Buyers And Sellers Struggling For Control 

The Tron price started the previous week on a bearish note, as the price dropped by over 5% on Monday, slipping below the 50-day SMA and settling at $0.101. On Tuesday, the price recovered, rising by 1.67%, but fell back on Wednesday, dropping by 4.57% and settling at $0.098. TRX pushed back up on Thursday, as the price rose by almost 2% to settle at $1.00. However, Friday saw the price fall significantly, as TRX fell by over 8% and settled at $0.091.

Image: TRX/USD daily chart 120321

Image: TRX/USD daily

After dropping by over 8%, the Tron price pushed up over the weekend, rising by 1.24% on Saturday and then by over 2% on Sunday to end the weekend at $0.095. The bullish sentiment persisted on Monday, as the price moved up to $0.097 after registering an increase of over 2%. TRX dropped marginally on Tuesday despite the bullish sentiment but pushed back up on Wednesday, settling at $0.96. The current session sees buyers and sellers struggling for control of the session, with the price currently at $0.097.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.

Image: TRX/USD 4-hour chart 120321

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows us that TRX had dropped to $0.091 on the 26th after failing to move past the 20-bar SMA. TRX pushed up to $0.094 from this level, but once again, could not move past the 20-bar SMA and dropped to $0,090. TRX pushed up marginally from this level before moving adobe the 20-bar SMA on the 29th, as it rose to $0.095. TRX continued to push up from this level and pushed beyond the 50-bar SMA on the 30th, moving up to $0.098. TRX was able to stay at this level, thanks to the 50-bar SMA acting as support, but fell below the 20 and 50-bar SMAs on the 2nd before rising to its current level of $0.097.

We can see that the MACD is currently bearish, indicating that we could see the price drop. However, if the price pushes towards $0.100, we could see it flip to bullish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that buyers and sellers are struggling to control the current session. If buyers take control, we could see TRX move up towards $0.100, but if sellers took control, then we could see the price drop to $0.095.